you could have open an account with another broker, and write a put instead to offset the loss you were writing calls, it's dangerous if you don't know how. If you had bought that call at 65 when the underlying was trading at 50, then it would have been a different story
you also need to learn about that famous formula for options parity, to cover the call, you could have short some kind of floating rates ETFs with no volatility to "fund" the margin call before it happened.
The put-call parity: The formula for put call parity is c + k = f +p, meaning the call price plus the strike price of both options is equal to the futures price plus the put price. ... For example, if the futures price is 100 minus the call price of 5, plus the put price of 10 minus the 105 strike equals zero.
There are many things, I could have done, if it was be possible to do. But again, with negative net liquidation value, you can just wait for the broker to liquidate you. There is not a single trade you can enter.
You're looking for an out. Your out was not shorting naked calls. Now you are whining for your clearing firm to bail you out. I despise this shit... take RESPONSIBILITY. It's not your broker's job to protect you from yourself. Imagine a fast market in shares in which you shorted NAKED and were debit. It's not as though you're going to pay it back so what difference is the size of the debit?
Thank you, everyone for posting help/opinion. Unfortunately, the answers moved to an unproductive direction. Hence, this will be my last post.
Butterfly: ... especially with crazy volatility stocks like GME. Feb 19 70 puts when the stock was 310 were 15.50. Around 23 today. I mean... stock is down 80%, the puts went up just a bit Not that I didn't expect that but still.